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eNovance announces $CDN 8.2 million in funding from well-known European investors

MONTREAL, July 9, 2013 /CNW Telbec/ - eNovance (www.enovance.com), the European open source cloud computing leader and multi-cloud
management pioneer (public, private and hybrid clouds) has announced that finalization of a funding deal worth $CDN 8.2
million from Entrepreneur Venture, BNP Paribas, Oséo, and its
long-time investor Odyssée Venture. In a booming market, the investment
will be used to support eNovance's strategic priorities:

Strong growth in internal teams

Ongoing R&D investment in open source technology

Internationalization through increased access to US and Asian markets

Targeted strategic acquisitions

At the same time, eNovance announced that it has recruited an
experienced professional for its Montreal offices. Philippe Thériault
is appointed Chief Commercial Officer for North America. "This new
round of funding confirms the company's business model and growth
potential. eNovance's unique expertise places us squarely among the few
credible players on the market and in a highly advantageous position on
the North American market," explained Thériault.

"The Montreal area is bursting with qualified workers who meet the very
exacting needs of our industry. We plan to make Montreal the nerve
centre of our North American operations, so the team in the Montreal
office, which already has twenty-some employees, will have to grow
quickly in the months ahead," added Nicholas Marchal, co-founder and
Technical Director of eNovance.

With nearly 200 clients, including Warner, Ray-Ban, Publicis, Safran,
OnMobile and Louis Vuitton in North America, eNovance has proven the
maturity of its solutions for critical production applications.
eNovance intends to deploy its expertise internationally in all areas
of open source cloud technology. The company has set itself the goal of
quickly becoming an international benchmark in the field of open source
cloud technology and, by 2014, achieving a critical mass, with 150
people devoted to cloud computing in three regions - Europe, North
America and Asia.

About eNovance
eNovance is an innovative French company founded in 2008 by Raphaël
Ferreira, Nicolas Marchal and Pierre Molin is the European leader of
open source cloud computing. The company delivers services in two key
areas: integrating and operating public and private open source clouds
and 24/7 managed services for the world's largest public clouds
(Cloudwatt, AWS, Google Compute Engine, etc.). With its extensive
investment in R&D, in less than three years eNovance has become the
world's 7th largest contributor to the OpenStack initiative, and the
only European company on the foundation's board of directors alongside
Rackspace, Redhat, Cisco and HP. With nearly 200 clients such as
CloudWatt, Warner, Chronopost, Safran, and Canal Plus, eNovance has
become a partner of choice for rolling out critical applications in the
cloud. For more information: www.enovance.com

About Odyssée Venture
Odyssée Venture is one of the leading independent management companies
of investment capital funds, approved by the French financial market
authority (AMF). It manages twenty three innovation-focused investment
funds, investment funds for SMEs, and ISF funds, accounting for more
than €420 million of assets under management. Founded in 1999, Odyssée
Venture specializes in growth companies and manages a portfolio of more
than 60 investments in highly diverse sectors, from the internet to
telecommunications, IT services, software publishing, innovative
industries and life sciences. www.odysseeventure.com

About Entrepreneur Venture
Founded in 2000, Entrepreneur Venture is a company approved by the
French financial market authority (AMF), specializing in companies not
listed on the stock exchange, which are held and governed by
entrepreneurs. Entrepreneur Venture has capital invested in more than
90 SMEs. It manages two institutional venture investment funds, one
venture investment fund accessible to individuals, and 21 investment
funds focusing on SMEs, covering 12 of the 22 regions in France. It
manages a total of €400 million in assets, making Entrepreneur Venture
a leading investor in growing SMEs.www.entrepreneurventure.com

About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees,
including more than 150,000 in Europe. It ranks highly in its three
core activities: Retail Banking, Investment Solutions and Corporate &
Investment Banking. In Europe, the Group has four domestic markets
(Belgium, France, Italy and Luxembourg) and BNP Paribas Personal
Finance is the leader in consumer lending. BNP Paribas is rolling out
its integrated retail banking model across Mediterranean basin
countries, in Turkey, in Eastern Europe and a large network in the
western part of the United States. In its Corporate & Investment
Banking and Investment Solutions activities, BNP Paribas also enjoys
top positions in Europe, a strong presence in the Americas and solid
and fast-growing businesses in Asia-Pacific.

About OSEO, the future finance branch of bpifrance
OSEO, is a public company and the future finance branch of bpifrance,
providing entrepreneurs with the means to expand by funding their
innovation, investment and internationalization plans. It provides the
advice and funding needed throughout the various stages of a company's
life cycle. OSEO works closely with a network of European, national and
regional partners to allow the boldest innovative projects come to
fruition.www.oseo.fr